MUMBAI: New Delhi-based Unicon Securities, which was expelled by the stock exchanges for misconduct and 'unbusiness-like' attitude, may have defaulted to the tune of Rs 100 crore on the BSE and the National Stock Exchange (NSE). Unicorn owes an estimated Rs 70-75 crore to NSE and over Rs 25 crore to the BSE. These facts came to light in the course of Sebi's investigation into the brokers' dealings in the market. There are more than 3,500 complaints that Sebi and exchanges received...

TOKYO: Japanese police on Saturday arrested Mark Karpeles , head of the MtGox Bitcoin exchange, after a series of fraud allegations lead to its spectacular collapse and hammered the digital currency's reputation. A spokesman for the Tokyo Police said France-born Karpeles, 30, was suspected of manipulating data on the exchange's computer system in 2013 to falsely create about $1.0 million. Earlier Saturday, Kyodo News and other Japanese media said...

The process of demutualising all the broker-run exchanges in India actually started with the Bombay Stock Exchange which was demutualised in August 2005. In the UK, the London Stock Exchange got demutualised in March 2000. In the case of both these exchanges, the legal process was broadly the same: conversion from a not-for-profit mutual entity, i.e., an association of stockbrokers, into a for-profit public limited company. However, the underlying purpose of demutualisation in India is absolutely different...

The announcement and subsequent postponement of extended trading hours by the National Stock Exchange and the Bombay Stock Exchange show that the business of running exchanges needs more competition. And, with it, we need a new class of brokers willing to put in longer hours and banks that will support them. We wholly support extended trading hours. The whole point of having an exchange is to let people convert information into money. The longer the trading hours, the less the pile-up of...

COOCH BEHAR: The historic exchange of enclaves between India and Bangladesh will be made at midnight tonight. More than 100 enclaves of India encircled by Bangladesh border and over 50 enclaves of Bangladesh enclosed by Indian territory will be exchanged between the two neighbouring countries at midnight tonight, officials said here. As the country is observing mourning following the death of former President APJ Abdul Kalam , there would be no...

KOLKATA: On the eve of the much awaited transfer of chit-mahal enclaves between India and Bangladesh, West Bengal Chief Minister Mamata Banerjee today described the day as "a historic and memorable" one. "Today is a historic and memorable day," Banerjee wrote on social networking site Facebook. "The much-awaited transfer of chit-mahal enclaves between India and Bangladesh will be effected from today midnight," she added. ...

LSE, NYSE, OMX, Nasdaq, Euronext ? stock exchanges around the world are scrambling to consolidate To anyone who thinks of a stock exchange in terms of a bustling trading floor, the Nasdaq Stock Market's offer earlier this month to buy the London Stock Exchange (LSE) might have been surprising. If the whole point of an exchange is to bring buyers and sellers together in one place, how could Nasdaq manage if separated from its other half by an ocean?

THE BCE has joined hands with the Kanpur Commodities Exchange, in order to raise funds, said Anjani Sinha, CEO of the BCE. However, as this is not legally allowed, the both exchanges would now go to form subsidiaries. The members of both exchanges are expected take membership. In another significant development, the BCE has tied up with the Bank of Baroda and the Union Bank of India. Both banks have agreed to invest Rs 1 crore each in the BCE. The PSU banks have already...

Dear Dr Jalan, I was delighted to know that a person of your stature and knowledge will be leading the effort to rethink the ownership and governance structure of stock exchanges, clearing entities and depositories. In India, we have had a very poorly thought out structure which inhibits competition and promotes entry barriers. Exchanges are a profitable business in India, in fact very profitable, with operating margins of over 40%. There is nothing wrong with being competitive and innovative...

MOSCOW: Russia's battered stock exchanges resumed trading on Tuesday after a one-day suspension, following assurances that a wide range of companies would benefit from a government rescue package. The RTS index was up 1.7 percent one hour after the opening while the MICEX gained 0.9 percent. Blue chips at the MICEX were mixed. Gas giant Gazprom was 2.6 percent up, Russia's largest oil firm Rosneft was 2.4 percent lower and the country's largest private oil company, Lukoil,...

NEW DELHI: India's commodities exchanges are not ready for rice futures launch, the commodities market regulator said on Wednesday. Chairman of Forward Markets Commission B.C. Khatua also said 2010/11 futures turnover was seen at 110 trillion rupees ($2.41 trillion) versus 77.64 trillion rupees a year ago.

SINGAPORE: Most emerging Asian currencies eased on Friday, poised for monthly losses in July as faster US economic growth in the second quarter boosted expectations the Federal Reserve may raise interest rates as soon as September. The Malaysian ringgit stayed near a 17-year trough with bond prices lower as growing political fallout linked to Prime Minister Najib Razak and the debt-ridden state fund 1MDB hurt sentiment. Indonesia's rupiah fell...

Shares of Thomas Cook surged over 3 per cent in intraday trade on Friday. In an interview with ET Now, Madhavan Menon , MD, Thomas Cook, talks about their latest acquisition in Sri Lanka, and how it will benefit their business. ET Now: Fill us in on the details... interesting geography, I do not know how large this is. Fill us in on those details as well, and what does it do for Thomas Cook? Madhavan Menon: Sri...

NEW DELHI: As India and Bangladesh exchange 162 adversely-held enclaves on Friday midnight, New Delhi termed it as a "historic" day which will mark the resolution of a complex issue that has lingered since independence. Bangladeshi enclaves in India and Indian enclaves in Bangladesh shall stand physically transferred to the other country with effect from the midnight of July 31. "July 31 will thus be a historic day for both India and Bangladesh....

SINGAPORE: Most emerging Asian currencies slid on Thursday as US economic growth data due to be released later could fuel speculation that US interest rates could be raised as soon as September after the Federal Reserve left the door open for tightening. South Korea's won led regional losses as foreigners sold shares after disappointing corporate earnings. The Philippine peso touched a five-year low as foreigners sold stocks there as well. The Fed on...

MUMBAI: In a stern warning, regulator Sebi has said anyone trying to manipulate the markets with new-age trading technology tools would be slapped with strong penal measures and a new framework is being put in place to tackle cases like organised cyber attacks from abroad. On the other hand, the risk management systems in the marketplace have been upgraded to ensure that the damage from any genuine technical snags, including in the algorithmic and high-frequency...

NEW DELHI: Coming down heavily on companies where auditors have flagged serious lapses, regulator Sebi and stock exchanges have asked at least 75 listed firms, including Kingfisher Airlines and its parent UB Holdings, to restate their financial accounts after addressing these issues. These directions have been issued by the two top exchanges BSE and NSE in the past one year on Sebi's directive and many of these companies are believed to have either...

PATNA: Days after their meeting which triggered controversy, BJP leader Shatrughan Sinha and Chief Minister Nitish Kumar came across each other at the Airport here and exchanged greetings. The two had a chance meeting in front of the VIP gate when Sinha was going to Delhi and the Chief Minister was returning from the national capital after attending condolence meeting of former President A P J Abdul Kalam . First they waved hands at each other from respective...

NEW DELHI: Essar Oil has received approvals from National Stock Exchange (NSE) and BSE to delist its shares, company Managing Director & CEO L K Gupta said today. Delisting the company would give promoter Ruia borthers - Shashikant and Ravikant, greater flexibility and less regulatory scrutiny while selling a stake in the refiner. "NSE and BSE approval have now been received. The promoters will now have to make announcement and reverse book building start," he told PTI...